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JOURNEY SOUTH?The most important part of trading - especially with true trend-following - is stalking your prey very very carefully. The next is controlling loss. Trend followers suffer heavier controlled losses - but also enjoy far greater gains - than those who rely on targets-based methods of trading. It is certainly not for 'everybody'. Only about 20% of all traders are true trend followers. Trend continuity trading is not trend-following. Of high importance with 'stalking' any particular trend - because losses can be heavier - is the entry point. For example the ideal entry point in the chart snapshot would have been close to 26000. Anything much lower than that means risking heavier losses. I'm often asked if A, B, or C instrument is heading north or south. Most traders when they ask this sort of question are not thinking in terms of time frame. They're mainly looking at price and thinking R:R ratio. In trend following all you can do is control the loss. You do not know how much you may eventually gain. That's why it's very scary! But this is not a tutorial on trend following techniques or strategy. Overall though, one just has to pick a trend control loss and follow on that chosen time frame. It could be a lowly 1 min trend to a higher 1H trend - whatever you want so long as you can take the loss without flinching. I almost never get involved with higher than 1H trends these days. For those new to trend-following, from my experience, a simple 5 min trend can take up to about 2 days before it reverses. A 15 min trend can last several days. 1H trends can last a couple weeks. Of course, they can be very short lived too. Trend followers will also use harmonic patterns and other methods to assess key entry points. So 'we' don't have a problem with other methodologies. We'll use anything to get a pound of flesh out of the markets. But following the trend is the big thing. Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied or implied. Heavy losses can be expected. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
FOREXCOM:US30Education
by Captain_Walker
HOW-TO GRID TRADE: Show Me The Money (Tutorial #3)HOW-TO GRID TRADE: Show Me The Money (Tutorial #3). When I started this Grid Strategy Tutorial Series , I assumed readers would understand the profit potential straight away. I was wrong! Perhaps, because as I told my personal story and evolution into grid trading, I mentioned that I used grid trading for my "side money" (money I was not actively trading with other strategies). Yes, that's true. Initially, I just wanted an ROI on this otherwise dormant extra capital that was sitting at an exchange earning nothing. NOTE: If chart illustration above overlaps or is unreadable, there is a screenshot below. MY EPIPHANY It was when my passive "Grid Trading Side Project" started earning a better ROI than my hands-on active trading that I had my epiphany! No way was I going to give up on the other styles of trading I enjoyed, but when it comes to making money consistently and with far less risk... hands-down, it was grid trading I decided to master. A TUTORIAL SEGWAY I decided I'd throw some backtest results out so you could get a taste of what I'm talking about. Of course, the backtests posted here are in NO WAY predictive of what the market might deliver at your doorstep tomorrow, but I think you get the point. Many hundreds of real people have also shared there active results with me, so there is ample validation about the viability of this strategy. My personal results and those of others I coach are impressive, to say the least. However, we've lost money too, IT'S CRYPTO TRADING for crying out-loud. But like anything, you keep at it, you learn from others, you use indicators, you get better, you win some, you lose some, you master it and then... the winning results will exceed your losses. It doesn't take long at all. And YES, there's money in them there grids! MORE RESULTS... HOW TO I SEE MY POTENTIAL PROFIT? Want more current results? Want to test your favorite coins? DO IT NOW... You may test any cryptocurrency at any of your favorite exchanges and get instant backtest results by visiting a grid bot or automation platform. Backtests are simple, fast and impressive. THIS IS THE THIRD IN A SERIES OF GRID STRATEGY EDUCATIONAL TUTORIALS I hope this tutorial series helps increase your bottomline! HOW DO I LEARN MORE? 1) Review my related IDEAS and TUTORIALS (linked below) 2) Explore my GRID INDICATORS (linked Below) HOW DO I AUTOMATE MY GRID STRATEGY? Additional help and recommendations are at the bottom of this tutorial. PLEASE HIT THE LIKE BUTTON (and follow me... lots of great stuff in the works!) As always, I appreciate your support. Please share with others. ENJOY! Dan Hollings Master Crypto Grid Trader Please Explore My Other Indicators, Scripts, Grids and Educational Ideas. @ DanHollings on Tradingview.
COINBASE:ETHUSDEducation
by DanHollings
3
First Loss In 2 Months - Important LessonWe just took our first trading loss in two months on the GBPJPY short that we initiated a couple of days ago. I always welcome losses when they are controlled and within the confines or our trading system , which this GBPJPY short was. Why is that? Because I know that every loss is one trade closer to the next big win. And having a 81% success rate since the last loss at the end of May 2019 tends to make any loss much more bearable ;) How do we remain unwaiveringly confident even in the face of losses? Easy. Trade with a system that has a proven edge. Not over one month. Not two month. Not even just one year, but a system that has a consistent track record over at least two years of backtesting. It should be rooted in sound technical analysis so that you know the odds are always in your favor when you place that next trade. Because we have so much data for this system we know all the stats related to it. Therefore we will start experimenting with even bigger position sizing in a separate "High Risk" account. It will ask to stomach much bigger drawdowns but for much bigger returns as well. More to follow, be safe and good luck!
Education
by FollowMyForex